At what HH income level will private schools give aid?

[Anonymous]

Well, this thread is getting derailed, but as someone noted above, science professors make money for the university via grants, but not for themselves.

I do know some superstar professors with very light teaching loads, and they work 60 hour weeks on research and directing graduate students.

Living in a cheaper area outside the city isn't really an option here unless you want a 2+ hour commute. Arlington and Old town and Maryland are just as expensive. NYC has better commuter rail making it feasible.

[Anonymous]

Anonymous wrote: And isn't "humanities" a pre-law career derailed?

H ha. I've never known a single humanities professor who was ever interested in being a lawyer. But my brother lawyer ( a history major in college) did tell me once that law school (UVA in this case) was like a votech for humanities types.

[Anonymous]

You people are beating a dead horse and missing the main drivers of FA, which are NOT, repeat NOT anything to do with being generous to peole with less money.

The real reason private schools give out FA is because they HAVE to in order to meet two requirements that they CANNOT meet without doing so:

1) attract and retain the best and brightest students for purposes of maintaining their academic reputation ( SAT scores/college matric to HYP)
2) to tax shelter and maintain the non-profit status

There is no free lunch in life.

Perhaps if you people bitter about high tuition and FA awards, were not living above YOUR OWN MEANS, you woudl not resent the FA families so much. After all, their kids are in the school because they have an academic abilty, yours' are there simply becuase they met the minimum requirements, and you have the money to pay full. BIG DIFFERENCE.

Face It.

[Anonymous]

Anonymous wrote:You people are beating a dead horse and missing the main drivers of FA, which are NOT, repeat NOT anything to do with being generous to peole with less money.

The real reason private schools give out FA is because they HAVE to in order to meet two requirements that they CANNOT meet without doing so:

1) attract and retain the best and brightest students for purposes of maintaining their academic reputation ( SAT scores/college matric to HYP)
2) to tax shelter and maintain the non-profit status

There is no free lunch in life.

Perhaps if you people bitter about high tuition and FA awards, were not living above YOUR OWN MEANS, you woudl not resent the FA families so much. After all, their kids are in the school because they have an academic abilty, yours' are there simply becuase they met the minimum requirements, and you have the money to pay full. BIG DIFFERENCE.

Face It.

Children at two different elite private schools. I would stunned if any of the top 10 students in either class are obtaining FA because the parents are all well to do. There is no requirement that private schools provide FA, but it makes sense in various ways for schools to provide FA. It's difficult for many to swallow the hard truth that smart people tend to be more well to do AND have smart kids. It would be easy enough to fill the private schools with smart rich kids, but most schools see FA as part of their mission.

[Anonymous]

Anonymous wrote:Oh, and the eldest child gets straight As and has off-the-charts test scores, which makes the school look good. He also has special needs that made him non-functional in a large public school class. He's doing great now and I don't for a second feel sorry about accepting aid that makes it possible for him to thrive.

I am glad you get aid and glad your kid can attend. The really smart kids are such an asset - I think they make my son work harder and aspire to do good work. He's smart too -over 140 - so we need the real smarties to keep him on his toes!
I view that as a great use of my full pay and annual fund dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You people are beating a dead horse and missing the main drivers of FA, which are NOT, repeat NOT anything to do with being generous to peole with less money.

The real reason private schools give out FA is because they HAVE to in order to meet two requirements that they CANNOT meet without doing so:

1) attract and retain the best and brightest students for purposes of maintaining their academic reputation ( SAT scores/college matric to HYP)
2) to tax shelter and maintain the non-profit status

There is no free lunch in life.

Perhaps if you people bitter about high tuition and FA awards, were not living above YOUR OWN MEANS, you woudl not resent the FA families so much. After all, their kids are in the school because they have an academic abilty, yours' are there simply becuase they met the minimum requirements, and you have the money to pay full. BIG DIFFERENCE.

Face It.

Children at two different elite private schools. I would stunned if any of the top 10 students in either class are obtaining FA because the parents are all well to do. There is no requirement that private schools provide FA, but it makes sense in various ways for schools to provide FA. It's difficult for many to swallow the hard truth that smart people tend to be more well to do AND have smart kids. It would be easy enough to fill the private schools with smart rich kids, but most schools see FA as part of their mission.

I guess you have not met my DC. I've seen your stunned expression before, all over town.

[Anonymous]

And some other people's observations:

04/12/2013 18:05 Subject: Financial Aid Families... Do you really concern yourself?
Anonymous

As a private school grad I noticed the worst behaved children at my old school were not FA kids. Those were usually grateful to be there and understood the quality they were getting compared to their former public school. [b]Generally it was the rich and semi-neglected kids (parents who travel frequently, spent lavishly, left them with a nanny for weeks at a time) who got into trouble, especially the ones who started in K so didn't know any other world. Rolled Daddy's car, stole from their parents after they lost money gambling, dropped trash in the halls because "Roberto (the janitor) would pick it up." One girl was cutting herself, she lived with the maid while her internationally known mother worked on projects overseas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh, and the eldest child gets straight As and has off-the-charts test scores, which makes the school look good. He also has special needs that made him non-functional in a large public school class. He's doing great now and I don't for a second feel sorry about accepting aid that makes it possible for him to thrive.

I am glad you get aid and glad your kid can attend. The really smart kids are such an asset - I think they make my son work harder and aspire to do good work. He's smart too -over 140 - so we need the real smarties to keep him on his toes!
I view that as a great use of my full pay and annual fund dollars.

Thank you!

[Anonymous]

If you have a high debt and mortgage. So you can be a millionaire

[Anonymous]

I tell you about FA - you might get something at 140 K - definitely with two kids in the same school.

They will look at home equity but not retirement account. And yes, they expect you to remortgage that paid off house - so if you're living in a 200K house that's paid for - you aint getting financial aid.

Retirement accounts don't count. So if you lived in a paid off house, remortgage it up to 80 percent of the FMV (giving you little equity) - then take the case and put it into a retirement annuity - which does count on the formula (like a 401k)

[Anonymous]

Anonymous wrote:I know a family with two college prof parents (private fancy) and they get aid.

Professors don't make a lot of $$ usually.

[Anonymous]

Anonymous wrote:Some schools give you aid in the form of a "psychologist" to reduce "stress" during playdates. The school gives this "aid" to high income families. You have to ask for it.

I really need this kind of aid. Which school?